And finally this year our central monitory authority the Central Bank of the Philippines(BSP) has release some guidelines about the bitcoin usage in our country,this guidelines will cover virtual currency exchanges in the Philippines offering services or any activities that provide facility for conversion or exchanges, remittances, as stated above I will conclude that bitcoin in our country in partially legal with some restriction and limitation.

I am from philippines, The Philippine Central Bank recently approved new rules and regulations governing the operation of virtual currency exchanges. Bangko Sentral ng Pilipinas (BSP) defines virtual currency (VC) as, “any type of digital unit that is used as a medium of exchange or a form of digitally stored value created by agreement within the community of VC users.”

The Bangko Sentral recognizes that Virtual Currency systems have “the potential to revolutionize” the delivery of financial services, “particularly for payments and remittance, in view of their ability to provide faster and more economical transfer of funds, both domestic and international, and may further support financial inclusion.” However, the bank does not intend to endorse any VC, “such as bitcoin,” as a currency, “since it is neither issued or guaranteed by a central bank nor backed by any commodity.”

Would you consider the official declaration of the government is the only way just to say that virtual currency is legal? I think it is not yet official legal because it is not yet shown or heard on national TV and radio news. So people of a country is not yet aware about it.

In my country, the legality of the bitcoin is in the gray zone the government doesn't say anything about that. There are rumors about the government are making laws for bitcoin but I don't know. They have a politic regarding of the possession of foreign currency, is "illegal" and you can be jailed for that.

I am from Russia and as I know bitcoin is not admited here as legal yet, and not admited as illigal as well. So for bitcoin it's double position here. As I found out from other comments in this thread only few countries admited bitcoin as legal currency. So I think after some time and here will be created some law to regulate bitcoin and only that can make it legal here.

For Example in Ukraine, authorities prefer not to notice the situation with criptocurrencies. Ukrainian National Bank had tried to equate bitcoin to money surrogate, to get taxes from it. But at the moment, i think they are not understand how to actually do that.

Over the last few years, India and Bitcoin have had a positive relationship, the decentralized currency has grown in popularity within the country. Now some news reports are reporting that the Indian government may be preparing to legalize and regulate bitcoin as a form of payment.